All Forum Posts by: Dondy Desir-Gutt

@Benjamin Aaker Thanks for the detailed response. I have been considering a HELOC- although with interest rates on the rise, does that mean the home line of credit interest would be higher and would it affect my current mortgage rate? Fortunately, before closing I have locked a mortgage rate at 3.5% right before interest rates started to rise.I would hate to raise my current home mortgage interest rate at this point. But if that rate only applies to the HELOC, then that is a method that can be worked as long as the numbers factors into cashflow-ing on the 2nd property.

@Sebastian Hernandez Hi there and thanks! The property was funded with a FHA load- so low money down.

Hi guys, 

I am new investor that has been following Bigger Pockets and everyone that is talking real estate investing for the past 2 years. With that said, just this past May 2022 I have finally closed on my first rental property. I am NYC native (Brooklyn.- to be exact) and Newark prices offered a better entry as a first time home buyer for a multi-family home. I have bought a 2 family home of which my husband and I are house-hacking in the ground level apartment while we plan to Airbnb the entire 1st and 2nd units totaling 6 bedrooms and 4 bathrooms. We plan to cash flow well -as we've ran the rental calculators close to a few hundred times (lol) and is getting ready to launch to host guests in our home after about 2 months of getting funding to furnish and prepare the home. Now that we are going to launch, looking at the up-and-coming developments happening in Newark (it has the same energy as Brooklyn over 10 years ago) with many real estate investment opportunities, I would like to get information on how to start with a second rental and work on the strategies on financing my 2nd property. 

Any thoughts and suggestions. I would love to hear your feedback. Thanks in advance.

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I was looking for a hard money lender and came across Cogo Capital/Secured Investment Corp who has offered 100% financing through being part of the Inner Circle premium program. This entails taking a a course that cost $39k of which after doing 4 deals within the year as you attend a course on doing a fix n flip the right way, the $39k is then reimbursed. Sounds a bit too good to be true. Has anyone had this offer and experience? Would like to know. Thanks

Following up, as I have the same question @Account Closed How did you end up financing the triplex?